Mahindra has announced a 36 percent decline in its Auto Sector while its Farm Equipment Sector posted positive sales
Mahindra has revealed their sales report for July 2020. The company’s auto sector has registered total sales of 25,678 units in July 2020. This was a dip of 36 percent as against 40,142 units sold in July 2019.
Taking segment wise sales into account, sales in the PV segment which included cars, utility vehicles and vans, saw sales of 11,025 units in July 2020, down 34 percent as against sales of 16,831 units in the same month of the previous year.
Where commercial vehicles were concerned, Mahindra sales stood at 13,103 units in the past month, down 18 percent as compared to 15,969 units sold in July 2019 while exports dipped 45 percent to 1,467 units in July 2020 while exports in July 2019 stood at 2,668 units.
Mahindra Auto Sector YTD Sales
The period April to July 2020 has been a somewhat challenging period for the auto sector in the country. The COVID-19 pandemic struck in early March and the Government of India announced a lockdown thereafter. Year to date sales of Mahindra took a beating, falling as much as 68 percent in the April to July 2020 period as against the sales in the same period of the previous year.
De-growth could be seen both in terms of domestic sales and exports. Total domestic sales were down 68 percent to 51,792 units as against 1,61,604 units sold in the same period of the previous year. Exports on the other hand dipped 65 percent to 3,537 units in the past quarter as against 10,227 units exported in the same period last year. This took total domestic sales and exports down 68 percent to 55,329 units while 1,71,831 units were sold in the same period last year.
Mahindra Tractor Sales July 2020
Mahindra also released sales figures for its Farm Equipment Sector wherein a total of 25,402 tractors were sold in July 2020, a 27 percent increase when compared to sales of 19,992 units in July 2019. Domestic sales and exports closed on a positive note last month. Domestic sales increased 28 percent to 24,463 units, while 19,174 units were sold in the July 2019 period. Exports also surged 15 percent in July 2020 to 939 units up from 818 units exported in the same period of the previous year.
The period April to July 2020 however did not show any positive sales where the company’s Farm Equipment Sector was concerned. Total sales dipped 14 percent to 91,059 units in the 2020 period down from 1,06,342 units sold in the April to July 2019 period.
However, the company has optimistic plans for seeing better sales in this sector in the months ahead. July tractor sales at 24,463 units have been the company’s highest ever July sales. The strong monsoon, better cash flows to farmers along with higher Kharif sowing related to this positive growth and would have an even more positive impact on increased sales in the months ahead.